Steel Research & Technology Mission of India will be set up soon

New Delhi, 21 October 2014: Ministry of Steel will set up a “Steel Research & Technology Mission of India” (SRTMI) to promote collaborative research programmes in steel sector. The Union Minister of Steel, Mines, Labour & Employment, Narendra Singh Tomar accorded in-principle approval for setting up SRTMI, in a meeting with senior Ministry officials on October 20, 2014. Tomar remarked that SRTMI will be steel industry’s contribution to ‘Make in India, Made in India’ initiative. Investment on Research & Development in the steel sector must increase from present level of 0.2-0.3 % of turnover to international benchmark of 1-2 % of turnover by the leading companies, he added.

The conceptualization of SRTMI was done by a high level task force set up by the Ministry of Steel. The task force had recommended that SRTMI is to be formed as a registered society in close cooperation amongst the steel companies, Ministry of Steel, academia and relevant institutions in the country. SRTMI will be governed by a Governing Board of CEOs of steel and associated companies, domain experts of national and international repute, and one nominee from Ministry of Steel. There will be an Oversight Committee under the Chairmanship of Secretary (Steel) to periodically assess the functioning & performance of SRTMI.

SRTMI will carry out R&D in priority areas of national importance covering best usage of available raw materials & conservation of natural resources, optimum energy conservation & minimum emissions leading to innovations and in-house development of design, engineering & manufacturing facilities of key steel plant equipment. The task force further proposed that SAIL, Tata Steel, JSW Steel, JSPL, Essar Steel, RINL, NMDC & MECON will be the initial participating companies who will sign MOU besides Ministry of Steel.

The Secretary, Ministry of Steel, Rakesh Singh, Additional Secretary & Financial Advisor, Vinod Kumar Thakral and other senior government officials were present on the occasion.